When capital gains are relegated to the wealthy/investors, it’s easy for the public to ignore it or casually support it.
But in the coming years the overwhelming majority of people will be forced to pay for capital gains on their homes, their cars, their bitcoin, their stocks, everything will be driving higher in dollar terms. And despite all those “gains,” people will feel poorer than ever.
It’ll probably be capital gains tax that triggers the revolt when plummeting purchasing power hits normal people with additional 20% tax on stuff that only went up in price because of inflation. 🤔
Is inflation not part of the tax adjustment formula ?
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Not at all.
Zero CGT in Germany for cryptocurrencies if held more than a year. I wonder if we'll soon be seeing digital nomads based on countries' taxation policies and if they'll compete in this regard.
Already happening 👍🏻
